Russell Investments, the global financial services firm known as the provider of indexes underlying many of the most popular ETFs, recently announced the acquisition of ETF issuer U.S. One. The purchase of the small Reno, Nevada-based issuer could help Russell move further beyond its lineup of indexes and continue its expansion as a provider of exchange-traded products in the very near future.

The move by Russell involves the purchase of a diversified global equity “ETF of ETFs,” the One Fund (NYSE:ONEF). The actively-managed fund offers exposure to more than 95% of the global equity market in a single ticker; current holdings include the Vanguard Large Cap ETF (NYSE:VV) and the Vanguard Small Cap ETF (NYSE:VB) for domestic equity exposure, as well as the Vanguard Europe Pacific ETF (NYSE:VEA), Emerging Markets ETF (NYSE:VWO) and MSCI EAFE Small Cap ETF (NYSE:SCZ).

ONEF has accumulated more than $10 million in assets since its launch, appealing primarily to individual investors and fee-only RIAs.

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The acquisition comes after Russell experienced success in its launch of its ETF lineup in Australia last year with a fund focused on companies paying out high yields. Its High Dividend Australian Shares ETF now has over $100 million in assets under management. Last year, the company filed for SEC approval on a number of passively-indexed ETFs [see Russell Planning Major ETF Push].

“Russell continues to build the infrastructure for viable and comprehensive ETF offerings,” said Jim Polisson, managing director of Russell’s global ETF business. “The acquisition of U.S. One provides Russell with a platform to play a unique role in this dynamic and fast moving growth arena. By acquiring U.S. One, we can more immediately leverage our proprietary research to extend the options available to investors and include ETFs in our suite of products that we deliver to the marketplace.”